1. Technical Field
The present disclosure relates to an online data processing service, and, in particular, to a system and method for providing an online management service for personal documents, such as home improvement documents.
2. Description of Related Art
A home is often the most important investment made in one's lifetime. Unfortunately for the homeowner, the home is typically a primary target of government taxes such as capital gains taxes and inheritance taxes. When purchasing or selling a home, one rarely thinks about such tax implications. Generally, these taxes are based on the current value of the home minus the home purchase price minus the improvements made on the home. Thus, over an extended period of time, home improvements made on the home can significantly lower the capital gains and inheritance taxes on the home once it changes hands, whether sold or inherited. Homeowners rarely keep all documents reflecting home improvement costs and, as a result, end up paying more capital gains and/or inheritance taxes than necessary.
Managing personal documents can be a difficult task for anyone. Home improvement documents, in particular, typically include extensive documentation including contracts for services/work, receipts for products purchased, and photographs documenting improvements. Further, since most home improvement documents are paper-based, these documents are kept in a box, dresser drawer, file cabinet, or even thrown away. Additionally, many homeowners are unaware of the implications of home improvements on taxes such as capital gains and, thus, fail to appreciate the advantage of keeping and managing home improvement documents.